ING Direct Electric Orange Checking $50 Bonus

I’m aware that many regular Consumerism Commentary readers already have ING Direct savings accounts. Those who have been reading this website since the beginning know that I’m a fan. Their interest rates may not be at the top of the chart these days, and there is some concern that ING Direct’s parent company plans to sell off the bank’s American operations by 2013. Nevertheless, ING Direct is a solid choice for savings.

ING Direct’s paperless checking account, called Electric Orange, is an integral part of the bank’s services. I’ve been a customer of this type of account for almost as long as it has been offered. Although many readers have savings accounts at ING Direct, fewer have the associated Electric Orange account.

This is my main account for personal electronic transactions, including bill payments. Savings accounts are limited by regulators to only six withdrawals per statement cycle, so having a transactional account at the same bank allows me to easily and immediately transfer money from the account that receives payments to savings, while also allowing me to pay my bills.

ING Direct doesn’t send you a book of checks. If you need to send a paper check, you can do so my viewing your account online and entering the payee and address. The bank will send a paper check directly, and for $20 you can choose to send the check overnight for faster delivery. Otherwise, the process of sending payments are free. Customers will receive a debit card that can be used for purchases and in many ATMs throughout the country for free.

Be aware that if you are interested in opening an Electric Orange account, ING Direct will subject you to a credit check. For overdraft protection, rather than using funds from a linked savings account, ING Direct extends a small line of credit. You can still open the account if you don’t qualify for a line of credit, but you won’t have the option of overdraft protection.

To encourage new customers, ING Direct is now offering a $50 bonus for signing up for an Electric Orange checking account. In order to qualify, open a new account and use the debit card for a combination of signature-based (not PIN-based) purchases and Person2Person payments three times within 45 days of opening the account. This $50 bonus is better than the commonly-offered ING Direct referrals, but it’s only available for a limited time.

I have Electric Orange and I used to be a fan. Then I was sent a new debit card out of the blue with no notice and no reason given. The automatic charges from outside companies (I use my card for recurring charges a LOT) started bouncing. I had to go to each of those sites and change my card information. It ended up being over 20 accounts I had to modify.

Things haven’t gotten any better. Just the other day I logged in and got a totally different account history screen that didn’t show upcoming payments. I complained about it and the screen went back to normal next time, but…

I feel that ING Direct has lost its customer focus. I won’t be throwing any more business their way.

i’ve had my ING direct savings account for many years, but only picked up the checking account a few years ago. i mainly opened the account for the bonus, but wanted to keep it since i already had the savings account with them as well. i do not really use the account, although there are several nice features. i use the account as a safety or backup account in case there would ever be an issue with my main account. i have no complaints.

I’ve had one since last fall. It has been okay so far, though I don’t use it too much. One thing I wonder: what happens if this is my only checking account and I get a paper check, like a rebate or something. How do I deposit it?

I’ve gone totally to Electronic Orange as my checking account (closed my other accounts at a nearby credit union). ING has a P.O. Box where you can mail checks (signed and including your account number on the back). I tested the process before closing my other checking account but it worked great and the check is deposited in a few days. If you need the funds right away, it might not be your cup of tea – but it has worked for me.

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